EURUSD Daily Analysis – May 29, 2017

EURUSD is facing the 1.1161 support, a breakdown below this level will indicate that the bullish movement from 1.0839 had completed at 1.1267 already, this could trigger a correction pullback to 1.1050 area. On the upside, as long as 1.1161 support holds, the fall from 1.1267 could be treated as consolidation of the uptrend, and further rise towards 1.1450 is still possible after the consolidation.

EURUSD 4-hour chart